Bank charges you should know about.
From this year, you would be paying no charges for bank transfers through NEFT (National Electronic Funds Transfer) or RTGS (Real-time Gross Settlement). The Reserve Bank of India (RBI) announced just after its July monetary policy review that processing charges levied on NEFT and RTGS transactions will not apply starting January 2020. But this news may have come as a surprise for customers who are not aware of the charges banks levy on various services. We list a few such charges. Cash handling These are levied by many banks on cash deposits beyond a certain limit of transactions. In most cases, the first few transactions are free. Typically, the rules are more relaxed for transactions made at your home branch. "Cash handling charges form a significant part of charges levied by the bank. While transacting from your home branch allows you higher limits, you still have to pay charges of ?50-150 per transaction, if you exceed that limit," said Navin Chandani, chief ...